Decades-old kitchen staple company Tupperware files for bankruptcy

Published On Sep 18, 2024, 3:08 AM

Tupperware Brands Corporation has filed for Chapter 11 bankruptcy after facing ongoing financial difficulties, including the closure of its last US plant. The company lists liabilities between $1 billion and $10 billion and aims to reorganize while continuing operations through its sales consultants and retail partners. Tupperware has struggled in recent years, especially after a 2023 SEC filing raised doubts about its ability to continue as a going concern. CEO Laurie Ann Goldman stated the company plans to transform into a digital-first business amid challenging market conditions.